Premier aiming for mobile payment penetration rate of 90% by 2025

Premier Lai Ching-te (賴清德)

Taipei, Nov. 24 (CNA) Premier Lai Ching-te (賴清德) laid out a three-point plan on Friday for promoting mobile payment in Taiwan, with the goal of reaching a 90 percent penetration rate by 2025.

Speaking at a "Mobile Payment Day" event, Lai said it is important to expand mobile payment in Taiwan to create a "smart country" that can keep up with global trends in the age of digital economy.

To this end, he said, the government will host a number of events to raise awareness of mobile payment systems, introduce regulations to create a mobile payment-friendly environment, and work with the information security industry to strengthen the foundation for the development of mobile payment in Taiwan.

Meanwhile, the Cabinet will also help to promote artificial intelligence, Internet of Things, cloud computing and big data so that Taiwan can become more competitive globally as a smart country.

Coinciding with the two-day "Mobile Payment Day" event, a "mobile payment application service alliance" consisting of mobile payment operators, telecommunication companies, and finance companies was launched Friday to work with the government toward the goal of a 90 percent penetration rate by 2025.